Making to objects on the same plane cut each other out

What is the best way to have an object (logo) cut out another object (cylinder) so that the logo and the face of the cylinder are on the same plane? I want to texture both differently, but the need to be flush with each other.

Each time i have pushed the extruded logo through the face of the cylinder, it iether pushes all the way through or there is a slight heigh difference which the lighting then exaggerates with shadows.

Cinema doesn't have a built in function to cut objects with planes, but it's not terribly difficult to extrude a planar object a tiny bit and use the boolean object to cut with it. Then it's just a question of making the boolean editable and joining the objects together.